Caesars Sells WSOP Brand to GGPoker in $500m Deal

Caesar's sells WSOP Brand to GGPoker in $500m Deal

Caesars Entertainment has agreed to sell the World Series of Poker (WSOP) brand to NSUS Group the powerhouse behind GGPoker, for a landmark $500 million. The deal, announced on August 1st 2024, includes $250 million in cash and a $250 million promissory note.

Despite the sale, Caesars isn't stepping away from the WSOP. The gaming giant retains the right to host the iconic WSOP summer series on the Las Vegas Strip for the next 20 years. Moreover, Caesars will continue to brand its brick-and-mortar poker rooms with the WSOP name and hold exclusive rights to host live WSOP Circuit events.

Caesars Digital will also keep running its WSOP Online real-money poker operations in key states like Nevada, New Jersey, Michigan, and Pennsylvania. However, their online peer-to-peer poker operations will be limited under the new agreement, ensuring NSUS Group's dominance in the digital poker space.

Eric Hession, President of Caesars Digital, expressed optimism about the transition, saying 

We’ve enjoyed a longstanding and successful partnership with GGPoker that has helped spur the growth of the WSOP brand. This transaction is an exciting step for Caesars and the WSOP as it continues to evolve.

On the other side of the deal, Michael Kim, CEO of NSUS Group, shared his enthusiasm, stating

We will leverage GGPoker’s cutting-edge technology and industry expertise to create an exciting future for WSOP, ensuring players have an increasingly improved, safe, and seamless poker experience.

GGPoker assumed the status of the world's largest poker site in recent years and has been a significant force in the poker industry. With innovative features like Rush & Cash poker, All-In or Fold, and the integrated staking platform, GGPoker has set new standards for online gaming. 

Their 2020 WSOP Online main event broke world records, and the platform continues to win accolades, including the Online Poker Operator of the Year Award in 2022.

As NSUS Group takes the helm of the WSOP brand, the poker community is anticipating what the future might hold for the most loved live poker brand the world has ever known. The sale is set to close by the end of 2024, pending regulatory approvals.